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Summary

Summary

What is the Short Duration Core Bond Fund ?

The Fund seeks to deliver current income consistent with
the preservation of capital by investing in a wide variety of short duration investment grade debt securities including corporate debt securities, U.S. government and government-related securities, and mortgage-backed and other asset-backed securities.

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Performance

Performance

Dividend Yield
1
as of
01/18/2019

30-Day Standardized Yield
2
as of
12/31/2018

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

Gross 2.12%

Net 0.40%

YTD

1-YR

3-YR

5-YR

10-YR

Since Inception 04/19/2017

w/o sales charge

1.59%

1.59%

-

-

-

1.45%

Lipper Category Avg. Short Investment Grade Debt Funds

1.03%

1.03%

-

-

-

-

Bloomberg Barclays 1-3 Year US Government/Credit Bond Index

1.60%

1.60%

-

-

-

1.04%

Fund Expense Ratio :

Gross 2.12%

Net 0.40%

Fund Expense Ratio :

Gross 2.12%

Net 0.40%

YTD

1-YR

3-YR

5-YR

10-YR

Since Inception 04/19/2017

w/o sales charge

1.59%

1.59%

-

-

-

1.45%

Lipper Category Avg. Short Investment Grade Debt Funds

1.03%

1.03%

-

-

-

-

Bloomberg Barclays 1-3 Year US Government/Credit Bond Index

1.60%

1.60%

-

-

-

1.04%

Fund Expense Ratio :

Gross 2.12%

Net 0.40%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance of future results.

Year

Fund Returns

Bloomberg Barclays 1-3 Year US Government/Credit Bond Index

2018

1.59%

1.60%

2017

0.87%

0.84%

Year

Q1

Q2

Q3

Q4

Yearly Returns

2019

-

-

-

-

0.28%

2018

-0.07%

0.42%

0.57%

0.66%

1.59%

2017

-

-

0.47%

0.10%

0.87%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

NAV Historical Prices

Date

Net Asset Value

Portfolio

Portfolio

Type

Assets

Investment Grade Corporate

ABS

CMBS

U.S. Government Related

MBS

High Yield Corporate

Bank Loans

Other

Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity

Assets

Less than 1 year

1-2.99 years

3-4.99 years

5-6.99 years

CREDIT QUALITY DISTRIBUTION as of 12/31/2018

Rating

Assets

U.S. Treasury

Agency

AAA

AA

A

BBB

<BBB

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioning as of 12/31/2018

We continue to hold the view that U.S. domestic growth will separate from global weakness. Despite the recent market volatility and the downturn of some soft economic indicators, we are cautiously optimistic in the U.S. economy due to the strength in the labor market. We remain focused on domestic opportunities given the potential for increased volatility and event risk abroad. For example, we believe domestically-focused areas of the market, such as commercial mortgage-backed securities and asset-backed securities that are backed by credit card receivables and auto loans, offer relative value and strong carry opportunities.

We increased the portfolio’s allocation to investment grade corporate bonds as spreads widened during the quarter. We remain constructive on the fundamental and technical factors of this market segment and believe that the volatility experienced in the fourth quarter resulted in idiosyncratic opportunities to capture relative value, particularly within “BBB” rated debt.

We also increased the portfolio’s allocation to U.S. government related securities and mortgage-backed securities (MBS). Within MBS, we traded a range with respect to spread to Treasuries.

We decreased the portfolio’s allocation to asset-backed securities. While we continue to closely monitor this sector, as we believe it provides liquidity as well as presents unique opportunities to find pockets of relative value and attractive risk adjusted spread, we reduced the portfolio’s allocation in order to take advantage of attractive spreads within lower-rated, investment grade corporate bonds.

Portfolio Details
as of 12/31/2018

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Modified Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates. Duration is expressed as a number of years, and generally, the larger a portfolio’s duration, the greater the interest-rate risk or reward for underlying bond prices. Where applicable, securities, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs and ADRs and futures, are excluded from these calculations.

Holding

Coupon

Maturity

Assets

U.S. Treasury Note

0.625%

04/15/2023

5.5%

ALM VII Ltd

3.916%

10/15/2028

1.8%

TCI-Flatiron CLO 2016-1 Ltd

3.999%

07/17/2028

1.8%

U.S. Treasury Note/Bond

2.875%

10/31/2020

1.4%

Westgate Resorts LLC

2.150%

12/20/2026

1.1%

Massachusetts Educational Financing Authority

3.440%

04/25/2038

1.0%

Santander UK Group Holdings plc

3.125%

01/08/2021

0.9%

Credit Suisse Group AG

5.400%

01/14/2020

0.8%

Drive Auto Receivables Trust 2017-1

3.840%

03/15/2023

0.8%

Jefferies Group LLC

8.500%

07/15/2019

0.8%

% of Total Assets

15.9%

Holding

Coupon

Maturity

Assets

U.S. Treasury Note/Bond

2.875%

10/31/2020

9.8%

U.S. Treasury Note

0.625%

04/15/2023

4.0%

ALM VII Ltd

3.916%

10/15/2028

2.0%

TCI-Flatiron CLO 2016-1 Ltd

3.999%

07/17/2028

2.0%

Toronto-Dominion Bank

3.350%

10/22/2021

1.6%

U.S. Treasury Note/Bond

2.875%

11/30/2023

1.4%

Westgate Resorts LLC

2.150%

12/20/2026

1.3%

Massachusetts Educational Financing Authority

3.440%

04/25/2038

1.1%

Drive Auto Receivables Trust 2017-1

3.840%

03/15/2023

0.9%

Ford Motor Credit Co. LLC

8.125%

01/15/2020

0.9%

Jefferies Group LLC

8.500%

07/15/2019

0.9%

Lloyds Bank plc

6.500%

09/14/2020

0.8%

Sabine Pass Liquefaction LLC

5.625%

02/01/2021

0.8%

Morgan Stanley Capital I Trust

4.661%

06/15/2044

0.8%

NBCUniversal Enterprise, Inc.

5.250%

06/19/2099

0.8%

Citibank Credit Card Issuance Trust

3.210%

12/07/2024

0.8%

OneMain Financial Issuance Trust 2016-1A

3.660%

02/20/2029

0.8%

Westlake Automobile Receivables Trust 2018-3

3.320%

10/16/2023

0.8%

SCF Equipment Leasing 2018-1 LLC

3.630%

10/20/2024

0.8%

Foursight Capital Automobile Receivables Trust 201

3.240%

09/15/2022

0.8%

Foursight Capital Automobile Receivables Trust 201

3.530%

04/17/2023

0.8%

DLL 2018-1 LLC

3.100%

04/18/2022

0.8%

CPS Auto Receivables Trust 2017-C

3.790%

06/15/2023

0.8%

Foursight Capital Automobile Receivables Trust 201

3.680%

08/15/2023

0.8%

Santander UK Group Holdings plc

3.125%

01/08/2021

0.8%

PFS Financing Corp.

2.890%

02/15/2023

0.8%

Hudsons Bay Simon JV Trust

3.914%

08/05/2034

0.8%

Bank of The West Auto Trust 2017-1

2.110%

01/15/2023

0.8%

BB-UBS Trust

3.430%

11/05/2036

0.8%

Yara International ASA

7.875%

06/11/2019

0.8%

Caesars Palace Las Vegas Trust 2017-VICI

3.531%

10/15/2034

0.8%

Barclays Bank plc

10.179%

06/12/2021

0.8%

Westlake Automobile Receivables Trust 2018-3

2.980%

01/18/2022

0.8%

Morgan Stanley Capital Barclays Bank Trust 2016-MA

2.200%

09/13/2031

0.7%

Access Point Funding I 2017-1 LLC

3.060%

04/15/2029

0.7%

Diamond Resorts Owner Trust 2018-1

4.190%

01/21/2031

0.7%

Towd Point Asset Trust 2018-SL1

2.906%

01/25/2046

0.7%

Macquarie Group Ltd.

7.625%

08/13/2019

0.7%

AmeriCredit Automobile Receivables Trust 2017-3

2.240%

06/19/2023

0.7%

Dell International LLC / EMC Corp.

5.450%

06/15/2023

0.6%

CFCRE Commercial Mortgage Trust 2018-TAN

4.236%

02/15/2033

0.6%

General Electric Co.

5.500%

01/08/2020

0.6%

Entergy Corp.

5.125%

09/15/2020

0.6%

Caesars Palace Las Vegas Trust 2017-VICI

3.835%

10/15/2034

0.6%

Continental Resources, Inc.

5.000%

09/15/2022

0.6%

SMB Private Education Loan Trust 2018-B

2.627%

12/16/2024

0.6%

COMM 2014-LC15 Mortgage Trust

4.006%

04/10/2047

0.6%

FREMF Mortgage Trust

3.876%

04/25/2045

0.6%

SCF Equipment Leasing 2018-1 LLC

2.810%

04/20/2021

0.6%

Chesapeake Funding II LLC

1.910%

08/15/2029

0.6%

Cox Communications, Inc.

2.950%

06/30/2023

0.6%

Glencore Finance Canada Ltd.

4.950%

11/15/2021

0.6%

Chesapeake Funding II LLC

1.990%

05/15/2029

0.6%

Discover Financial Services

5.200%

04/27/2022

0.6%

International Lease Finance Corp.

8.250%

12/15/2020

0.5%

Credit Suisse Group AG

5.400%

01/14/2020

0.5%

Engs Commercial Finance Trust 2018-1

2.970%

02/22/2021

0.5%

Santander Drive Auto Receivables Trust 2016-1

4.020%

04/15/2022

0.5%

Royal Bank of Canada

3.350%

10/22/2021

0.5%

SCF Equipment Leasing 2017-2 LLC

3.410%

12/20/2023

0.5%

VEREIT Operating Partnership L.P.

3.000%

02/06/2019

0.5%

Conn's Receivables Funding 2018-A LLC

3.250%

01/15/2023

0.5%

Life Technologies Corp.

6.000%

03/01/2020

0.5%

ACC Trust 2018-1

3.700%

12/21/2020

0.5%

Macquarie Group Ltd.

6.000%

01/14/2020

0.5%

Chesapeake Funding II LLC

2.110%

03/15/2028

0.4%

Tesoro Logistics L.P.

6.250%

10/15/2022

0.4%

PerkinElmer, Inc.

5.000%

11/15/2021

0.4%

Energy Transfer Partners LP / Regency Energy Finan

5.875%

03/01/2022

0.4%

ONEOK Partners L.P.

8.625%

03/01/2019

0.4%

Enbridge Energy Partners L.P.

9.875%

03/01/2019

0.4%

Motiva Enterprises LLC

5.750%

01/15/2020

0.4%

Drive Auto Receivables Trust

5.150%

08/15/2022

0.4%

General Electric Co.

5.300%

02/11/2021

0.4%

Caesars Palace Las Vegas Trust 2017-VICI

4.138%

10/15/2034

0.4%

California Republic Auto Receivables Trust

2.700%

09/15/2021

0.4%

Ford Credit Auto Owner Trust

2.190%

07/15/2022

0.4%

Healthcare Trust of America Holdings LP

3.700%

04/15/2023

0.4%

UBS-Barclays Commercial Mortgage Trust

2.850%

12/10/2045

0.4%

Goldman Sachs Group, Inc.

2.908%

06/05/2023

0.4%

Bank of America Corp.

3.004%

12/20/2023

0.4%

MSCG Trust

2.612%

06/07/2035

0.4%

Kinder Morgan Energy Partners L.P.

6.850%

02/15/2020

0.4%

World Financial Network Credit Card Master Trust

2.660%

08/15/2024

0.4%

Shelter Growth CRE 2018-FL1 Issuer Ltd

3.307%

01/15/2035

0.4%

World Financial Network Credit Card Master Trust

2.030%

04/15/2025

0.4%

Pennsylvania Electric Co.

5.200%

04/01/2020

0.4%

General Motors Financial Co., Inc.

3.150%

06/30/2022

0.4%

General Motors Financial Co., Inc.

3.200%

07/06/2021

0.4%

BX Commercial Mortgage Trust 2018-BIOA

2.978%

03/15/2037

0.4%

Willis North America, Inc.

7.000%

09/29/2019

0.4%

Kilroy Realty L.P.

6.625%

06/01/2020

0.3%

Macquarie Bank Ltd.

6.625%

04/07/2021

0.3%

World Financial Network Credit Card Master Trust

3.340%

04/17/2023

0.3%

Morgan Stanley Bank of America Merrill Lynch Trust

4.064%

02/15/2047

0.3%

General Motors Financial Co., Inc.

4.200%

03/01/2021

0.3%

Glencore Funding LLC

3.699%

01/15/2019

0.3%

WFRBS Commercial Mortgage Trust

4.869%

02/15/2044

0.3%

J.P. Morgan Chase Commercial Mortgage Securities T

2.798%

10/05/2031

0.3%

Duqesne Light Holdings, Inc.

6.400%

09/15/2020

0.3%

California Republic Auto Receivables Trust 2017-1

2.910%

12/15/2022

0.3%

J.P. Morgan Chase Commercial Mortgage Securities T

3.565%

07/15/2034

0.3%

Santander Drive Auto Receivables Trust 2018-4

3.560%

07/15/2024

0.3%

Flagship Credit Auto Trust 2018-3

3.590%

12/16/2024

0.3%

Drive Auto Receivables Trust

2.610%

08/16/2021

0.3%

General Electric Co.

3.236%

04/15/2020

0.3%

J.P. Morgan Chase Commercial Mortgage Securities T

4.447%

10/15/2032

0.3%

COMM Mortgage Trust

3.334%

06/10/2046

0.3%

Exeter Automobile Receivables Trust 2017-3

2.810%

09/15/2022

0.3%

Jefferies Group LLC

6.875%

04/15/2021

0.3%

MPLX L.P.

5.500%

02/15/2023

0.3%

International Lease Finance Corp.

5.875%

08/15/2022

0.3%

HSBC USA, Inc.

9.300%

06/01/2021

0.3%

Drive Auto Receivables Trust

4.530%

08/15/2023

0.3%

Broadcom Corp. / Broadcom Cayman Finance Ltd.

2.650%

01/15/2023

0.3%

ITC Holdings Corp.

5.500%

01/15/2020

0.3%

International Lease Finance Corp.

5.875%

04/01/2019

0.2%

Great Wolf Trust 2017-WOLF

4.557%

09/15/2034

0.2%

Puget Energy, Inc.

5.625%

07/15/2022

0.2%

BX Trust 2017-SLCT

3.707%

07/15/2034

0.2%

SCANA Corp.

4.750%

05/15/2021

0.2%

Life Technologies Corp.

5.000%

01/15/2021

0.2%

JP Morgan Chase Commercial Mortgage Securities Cor

4.128%

07/05/2031

0.2%

World Financial Network Credit Card Master Trust

2.310%

08/15/2024

0.2%

JP Morgan Chase Commercial Mortgage Securities Tru

3.307%

06/15/2032

0.2%

Hilton Orlando Trust 2018-ORL

3.077%

12/15/2034

0.2%

PPL WEM Ltd./Western Power Distribution Ltd.

5.375%

05/01/2021

0.2%

World Financial Network Credit Card Master Trust

2.150%

04/17/2023

0.2%

HMH Trust 2017-NSS

3.787%

07/05/2031

0.2%

U.S. Treasury Note/Bond

2.875%

09/30/2023

0.2%

Glencore Funding LLC

3.125%

04/29/2019

0.2%

Diamond Resorts Owner Trust

3.080%

11/20/2028

0.2%

Northern Natural Gas

4.250%

06/01/2021

0.2%

Buckeye Partners L.P.

5.500%

08/15/2019

0.2%

Liberty Property L.P.

4.750%

10/01/2020

0.2%

Florida Gas Transmission Co., LLC

7.900%

05/15/2019

0.2%

WFRBS Commercial Mortgage Trust

4.911%

06/15/2045

0.2%

Enbridge Energy Partners L.P.

4.200%

09/15/2021

0.2%

Goldcorp, Inc.

3.625%

06/09/2021

0.2%

Morgan Stanley Capital I Trust

3.773%

03/15/2045

0.2%

UBS-Barclays Commercial Mortgage Trust

3.525%

05/10/2063

0.2%

Hyundai Capital America

3.450%

03/12/2021

0.2%

UBS-Barclays Commercial Mortgage Trust

3.244%

04/10/2046

0.2%

WFRBS Commercial Mortgage Trust 2013-C18

3.896%

12/15/2046

0.2%

WFRBS Commercial Mortgage Trust 2012-C9

2.870%

11/15/2045

0.2%

BX Trust 2018-GW

3.107%

05/15/2035

0.2%

J.P. Morgan Chase Commercial Mortgage Securities T

4.143%

10/05/2031

0.2%

J.P. Morgan Chase Commercial Mortgage Securities T

3.554%

10/05/2031

0.2%

ReadyCap Commercial Mortgage Trust 2018-4

3.390%

02/27/2051

0.2%

TCF Auto Receivables Owner Trust 2016-PT1

2.920%

10/17/2022

0.2%

Motel 6 Trust 2017-MTL6

4.457%

08/15/2034

0.2%

Spectra Energy Partners L.P.

4.600%

06/15/2021

0.2%

Anadarko Petroleum Corp.

8.700%

03/15/2019

0.2%

CarMax Auto Owner Trust

1.400%

08/15/2021

0.2%

Woodside Finance Ltd.

4.600%

05/10/2021

0.2%

Dominion Resources, Inc.

2.962%

07/01/2019

0.2%

J.P. Morgan Chase Commercial Mortgage Securities T

4.265%

07/15/2034

0.2%

BBCMS 2017-GLKS Mortgage Trust

3.707%

11/15/2034

0.2%

BBCMS 2017-GLKS Mortgage Trust

3.507%

11/15/2034

0.2%

FREMF Mortgage Trust

3.263%

04/25/2046

0.2%

UBS-Barclays Commercial Mortgage Trust

3.185%

03/10/2046

0.2%

J.P. Morgan Chase Commercial Mortgage Securities T

4.248%

07/05/2033

0.2%

Stonemont Portfolio Trust 2017-STONE

4.351%

08/20/2030

0.2%

Compass Bank

5.500%

04/01/2020

0.2%

Government National Mortgage Association

2.700%

08/16/2058

0.2%

Puget Energy, Inc.

6.000%

09/01/2021

0.2%

Drive Auto Receivables Trust

3.010%

11/15/2021

0.2%

Florida Gas Transmission Co., LLC

5.450%

07/15/2020

0.2%

Drive Auto Receivables Trust

3.720%

09/16/2024

0.1%

Dollar Tree, Inc.

3.036%

04/17/2020

0.1%

U.S. Treasury Note/Bond

2.875%

11/15/2021

0.1%

NV Energy, Inc.

6.250%

11/15/2020

0.1%

Canadian Pacific Railway Co.

9.450%

08/01/2021

0.1%

MSCG Trust

3.460%

11/15/2034

0.1%

EnCana Corp.

6.500%

05/15/2019

0.1%

San Diego Gas & Electric Co

1.914%

02/01/2022

0.1%

FREMF Mortgage Trust

3.473%

05/25/2045

0.1%

Ausgrid Finance Pty Ltd

3.850%

05/01/2023

0.1%

World Financial Network Credit Card Master Trust

1.980%

06/15/2023

0.1%

Government National Mortgage Association

3.000%

01/16/2048

0.1%

Liberty Mutual Group, Inc.

5.000%

06/01/2021

0.1%

Caesars Palace Las Vegas Trust 2017-VICI

0.538%

10/15/2034

0.1%

Senior Housing Properties Trust

3.250%

05/01/2019

0.1%

West Town Mall Trust 2017-KNOX

4.491%

07/05/2030

0.1%

Teva Pharmaceutical Finance Netherlands III BV

1.700%

07/19/2019

0.1%

Continental Resources, Inc.

4.500%

04/15/2023

0.1%

West Town Mall Trust 2017-KNOX

4.491%

07/05/2030

0.1%

CNH Equipment Trust

1.650%

09/15/2021

0.1%

JP Morgan Chase Commercial Mortgage Securities Tru

4.407%

06/15/2032

0.1%

Government National Mortgage Association

2.750%

02/16/2058

0.1%

Government National Mortgage Association

2.700%

04/16/2057

0.1%

American Credit Acceptance Receivables Trust 2015-

4.840%

10/12/2021

0.1%

BX Trust 2017-APPL

4.357%

07/15/2034

0.1%

LSTAR Commercial Mortgage Trust

2.729%

04/20/2048

0.1%

QUALCOMM, Inc.

2.872%

05/20/2020

0.1%

Discover Financial Services

10.250%

07/15/2019

0.1%

BX Trust 2017-SLCT

4.357%

07/15/2034

0.1%

J.P. Morgan Chase Commercial Mortgage SecuritiesTr

3.327%

11/15/2035

0.1%

J.P. Morgan Chase Commercial Mortgage SecuritiesTr

4.307%

11/15/2035

0.1%

J.P. Morgan Chase Commercial Mortgage SecuritiesTr

4.007%

11/15/2035

0.1%

J.P. Morgan Chase Commercial Mortgage SecuritiesTr

3.657%

11/15/2035

0.1%

American Credit Acceptance Receivables Trust 2018-

2.720%

03/10/2021

0.1%

Dr. Pepper Snapple Group, Inc.

4.057%

05/25/2023

0.1%

CarMax Auto Owner Trust 2017-3

2.220%

11/15/2022

0.1%

Goldman Sachs Group, Inc.

2.876%

10/31/2022

0.1%

Texas Eastern Transmission L.P.

4.125%

12/01/2020

0.1%

JPMBB Commercial Mortgage Securities Trust 2013-C1

4.133%

08/15/2046

0.1%

WFRBS Commercial Mortgage Trust 2014-C19

4.101%

03/15/2047

0.1%

Vulcan Materials Co.

2.971%

03/01/2021

0.1%

DowDuPont Inc

3.766%

11/15/2020

0.1%

Hewlett-Packard Co.

3.279%

01/14/2019

0.1%

Vulcan Materials Co.

2.941%

06/15/2020

0.1%

JP Morgan Chase Commercial Mortgage Securities Tru

3.907%

06/15/2032

0.1%

JP Morgan Chase Commercial Mortgage Securities Tru

3.607%

06/15/2032

0.1%

Caesars Palace Las Vegas Trust 2017-VICI

4.499%

10/15/2034

0.1%

J.P. Morgan Chase Commercial Mortgage Securities T

3.264%

07/05/2033

0.1%

Bancorp Commercial Mortgage 2018-CRE3 Trust/The

3.157%

01/15/2033

0.1%

SLIDE 2018-FUN

3.530%

06/15/2031

0.1%

SLIDE 2018-FUN

3.830%

06/15/2031

0.1%

SLIDE 2018-FUN

3.180%

06/15/2031

0.1%

Chase Issuance Trust

2.770%

03/15/2023

0.1%

First Investors Auto Owner Trust

2.410%

12/15/2022

0.1%

First Investors Auto Owner Trust

2.720%

04/17/2023

0.1%

Wells Fargo Commercial Mortgage Trust 2015-C26

2.991%

02/15/2048

0.1%

Citigroup Commercial Mortgage Trust

2.944%

02/10/2048

0.1%

Flagship Credit Auto Trust 2017-3

2.590%

07/15/2022

0.1%

Newell Rubbermaid, Inc.

3.850%

04/01/2023

0.1%

WFRBS Commercial Mortgage Trust 2012-C10

2.875%

12/15/2045

0.1%

Motel 6 Trust 2017-MTL6

3.707%

08/15/2034

0.1%

Nexen, Inc.

6.200%

07/30/2019

0.1%

Southern Copper Corp.

5.375%

04/16/2020

0.1%

UBS-Citigroup Commercial Mortgage Trust

3.595%

01/10/2045

0.1%

Vodafone Group plc

3.750%

01/16/2024

0.1%

Lazard Group LLC

4.250%

11/14/2020

0.1%

Martin Marietta Materials, Inc.

2.960%

05/22/2020

0.1%

Santander Drive Auto Receivables Trust 2017-2

2.790%

08/15/2022

0.1%

Associated Bank NA/Green Bay WI

3.500%

08/13/2021

0.1%

Drive Auto Receivables Trust

3.340%

09/15/2022

0.1%

Vodafone Group plc

3.329%

01/16/2024

0.1%

Bank of America Corp.

2.328%

10/01/2021

0.1%

Holcim US Finance Sarl & Cie SCS

6.000%

12/30/2019

0.1%

Illinois, IL

4.950%

06/01/2023

0.1%

Santander Drive Auto Receivables Trust 2017-2

2.210%

10/15/2021

0.0%

Roper Industries, Inc.

3.650%

09/15/2023

0.0%

Dr. Pepper Snapple Group, Inc.

3.200%

11/15/2021

0.0%

Flagship Credit Auto Trust 2017-4

2.070%

04/15/2022

0.0%

Government National Mortgage Association

2.750%

02/16/2058

0.0%

Government National Mortgage Association

2.750%

02/16/2058

0.0%

Aircastle Ltd.

5.500%

02/15/2022

0.0%

W.R. Berkley Corp.

5.375%

09/15/2020

0.0%

Jersey Central Power & Light Co.

4.700%

04/01/2024

0.0%

Johnson Controls International plc

5.000%

03/30/2020

0.0%

Liberty Mutual Group, Inc.

4.950%

05/01/2022

0.0%

Trimble Navigation Ltd.

4.150%

06/15/2023

0.0%

Sunoco Logistics Partners L.P.

4.400%

04/01/2021

0.0%

Sempra Energy

2.839%

01/15/2021

0.0%

E*TRADE Financial Corp.

2.950%

08/24/2022

0.0%

Government National Mortgage Association

2.600%

07/16/2058

0.0%

First Investors Auto Owner Trust

2.000%

03/15/2022

0.0%

Celanese US Holdings LLC

5.875%

06/15/2021

0.0%

Pioneer Natural Resources Co.

7.500%

01/15/2020

0.0%

Aircastle Ltd.

7.625%

04/15/2020

0.0%

SCANA Corp.

6.250%

04/01/2020

0.0%

Columbia Pipeline Group, Inc.

3.300%

06/01/2020

0.0%

PNM Resources, Inc.

3.250%

03/09/2021

0.0%

Bank of America Corp.

2.369%

07/21/2021

0.0%

Bayer US Finance II LLC

2.750%

07/15/2021

0.0%

RPI Finance Trust

3.869%

05/04/2022

0.0%

Santander Drive Auto Receivables Trust

2.570%

04/15/2021

0.0%

Express Scripts Holding Co.

4.750%

11/15/2021

0.0%

CNH Capital LLC

4.375%

04/05/2022

0.0%

Equifax, Inc.

3.600%

08/15/2021

0.0%

Glencore Funding LLC

4.125%

05/30/2023

0.0%

AmeriCredit Automobile Receivables Trust 2017-3

1.690%

12/18/2020

0.0%

Willis Group Holdings

5.750%

03/15/2021

0.0%

Aircastle Ltd.

5.125%

03/15/2021

0.0%

CNH Capital LLC

4.875%

04/01/2021

0.0%

Aircastle Ltd.

5.000%

04/01/2023

0.0%

Glencore Funding LLC

2.500%

01/15/2019

0.0%

Phillips 66

2.911%

02/26/2021

0.0%

Ascentium Equipment Receivables 2017-1 Trust

2.290%

06/10/2021

0.0%

Commercial Mortgage Backed Index Swap

2.000%

05/11/2063

0.0%

Williams Cos., Inc.

7.875%

09/01/2021

0.0%

Commercial Mortgage Backed Index Swap

1.500%

05/11/2063

0.0%

Kinder Morgan Energy Partners L.P.

2.650%

02/01/2019

0.0%

SCANA Corp.

4.125%

02/01/2022

0.0%

Commercial Mortgage Backed Index Swap

1.500%

05/11/2063

0.0%

Ascentium Equipment Receivables 2017-1 Trust

1.870%

07/10/2019

0.0%

LSTAR Commercial Mortgage Trust

2.767%

01/20/2041

0.0%

Commercial Mortgage Backed Index Swap

2.000%

05/11/2063

0.0%

Commercial Mortgage Backed Index Swap

1.500%

05/11/2063

0.0%

US 2YR NOTE (CBT) MAR19

0.000%

04/03/2019

0.0%

US 5YR NOTE (CBT) MAR19

0.000%

04/03/2019

0.0%

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

For

YTD Dividends Paidas of 01/18/2019

$0

Dividend Frequency

Monthly (Daily Accrual)

Record Date

Ex-Dividend Date

Reinvest & Payable Date

Dividend

Reinvest Price

Daily

Daily

12/31/2018

$0.02791

$9.73

Daily

Daily

11/30/2018

$0.02816

$9.71

Daily

Daily

10/31/2018

$0.02804

$9.73

Daily

Daily

09/30/2018

$0.02893

$9.75

Daily

Daily

08/31/2018

$0.02914

$9.77

Daily

Daily

07/31/2018

$0.02785

$9.77

Daily

Daily

06/30/2018

$0.02819

$9.78

Daily

Daily

05/31/2018

$0.02657

$9.80

Daily

Daily

04/30/2018

$0.02654

$9.79

Daily

Daily

03/31/2018

$0.02491

$9.82

Daily

Daily

02/28/2018

$0.02369

$9.83

Daily

Daily

01/31/2018

$0.02422

$9.86

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date

Ex-Dividend Date

Reinvest & Payable Date

Daily

Daily

01/31/2019

Daily

Daily

02/28/2019

Daily

Daily

03/31/2019

Daily

Daily

04/30/2019

Daily

Daily

05/31/2019

Daily

Daily

06/30/2019

Daily

Daily

07/31/2019

Daily

Daily

08/31/2019

Daily

Daily

09/30/2019

Daily

Daily

10/31/2019

Daily

Daily

11/30/2019

Daily

Daily

12/31/2019

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 12/31/2018

The net expense ratio takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 03/31/2019. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower.

Coming Soon.......

1

12-Month Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to its value with maximum sales charges and without sales charges. The fund’s dividend yield is calculated by dividing the fund’s income distributions over the previous year by the fund’s current value with maximum sales charges and without sales charges.

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

3

The Fund’s Dividend Yield, 12-Month Dividend Yield and 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s Subsidized Dividend yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

4

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

+

There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus.

IMPORTANT INFORMATION

New Fund Risk: The Fund is newly organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investment strategy. Diversification does not guarantee a profit or protect against loss in declining markets.

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of an investment in the Fund will change as interest rates fluctuate in response to market movements. When interest rates rise, the prices of debt securities are likely to decline, and when interest rates fall, the prices of debt securities tend to rise. The Fund may invest in high yield, lower-rated debt securities, sometimes called junk bonds and may involve greater risks than higher rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance. The fund performance history at this time is very limited; therefore, performance achieved during its initial period of investment operation may not be replicated over longer periods and may not be indicative of how the Fund will perform in the future. Past performance is no guarantee of future results.

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

The Bloomberg Barclays U.S. 1 to 3 Year Government/Credit Index is an unmanaged index that is designed to represent a combination of the Government Bond Index and the Corporate Bond Index, and includes U.S. government Treasury and agency securities, corporate bonds, and Yankee bonds with maturities of 1 to 3 years.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

Select funds to run a Morningstar Hypothetical Report.

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You are leaving the Lord Abbett U.S. investor website and entering a Lord Abbett website intended for non-U.S. investors. If you are an investor located in the U.S., then the following website is not directed at you and you should not proceed.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Lord Abbett Funds. This and other important information is contained in the fund's summary prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord Abbett mutual fund, you can click here or contact your investment professional or Lord Abbett Distributor LLC at 888-522-2388. Read the prospectus carefully before you invest or send money.

The information provided is not directed at any investor or category of investors and is provided solely as general information about Lord Abbett’s products and services and to otherwise provide general investment education. None of the information provided should be regarded as a suggestion to engage in or refrain from any investment-related course of action as neither Lord Abbett nor its affiliates are undertaking to provide impartial investment advice, act as an impartial adviser, or give advice in a fiduciary capacity. If you are an individual retirement investor, contact your financial advisor or other fiduciary about whether any given investment idea, strategy, product or service may be appropriate for your circumstances.